The province is announcing significant measures to combat the cost of living.

Government announced two temporary measures to provide relief from the high cost of fuel. The provincial tax on gas and diesel is being cut by 50 per cent, leading to a break of 8.05 cents per litre. The cut in gas tax will remain in place until January 2023. The changes will be introduced in the House of Assembly this coming Monday and will come into effect when implemented by the Board of Commissioners of Public Utilities.

As well, oil-heated homes with income under $100,000 dollars will see a one-time payment of $500. Payments will be reduced as the income threshold rises, meaning households making between $100,000 and $150,000 will receive payment between $200 and $500 dollars.

The measures will cost the government around $75 million.

The province is also announcing three increases to minimum wage—one in October of this year to bring the wage to $13.70, one in April 2023 where it will be $14.50, and one in October of 2023, when it will reach $15.00 per hour.

Labour Minister Bernard Davis says government recognizes that a minimum wage increase has an impact on not only workers, but employers as well.

He says a one-year transitional support program is being provided to employers with fewer than 20 employees, providing 50 cents an hour per minimum wage employee for a period of one year until October of 2023.